Greetings, once again I’m starting this column with our fearless leader, Alexis, simply because, frankly, we’re tired of writing the same things over and over in the middle of summer. What is there to say anymore about Famellos and SYRIZA? The only thing remotely interesting at the congress was a guy giving a speech in a tank top, another delegate from Mykonos, and a few unpaid lads from Avgi sweating it out due to the busted air conditioning in the Peristeri stadium. So, yesterday, I turned to the experts on the so-called “Tsipras Party,” prompted by the rumors sparked by cousin Giorgos Tsipras’s departure—even though I’m not entirely sure how close they still are. I spoke with a pollster, an election analyst, and a strategist (yes, sic) about the “Tsipras Party,” and here are some snippets from our chat:
A) “I’m not sure Tsipras wants to form a party before the elections just to lose to Mitsotakis for, what, the tenth time? It makes more sense for him to wait.”
B) “It’s one thing in theory—sure, he could pull 17% in potential votes—but once he actually forms the party, he’ll start getting smacked around by everyone, from Mitsotakis to Polakis.”
C) “I look at it the other way: not who might vote for him, but who won’t. The anti-Tsipras or anti-SYRIZA bloc hits 80%, even higher than in 2019.”
D) “When you run focus groups, it comes out to about 7% sure votes—basically what SYRIZA’s pulling now. So, really, all he’d be doing is shutting down Famellos’s shop and opening a new one with his name on it.”
That’s what they told me—but as you can imagine, if I could predict the future, I’d be rich by now.

Preventive “Jabs”
-Yesterday’s speech by K.M. at the Political Committee of New Democracy had a very clear “jab” aimed at Antonis Samaras, who’s expected today to stir the pot at the War Museum by attacking the government’s foreign policy. While speaking about those who “worry from the couch” and “self-appointed advisors” on national issues, K.M. pretty much painted a picture of the former Prime Minister, who’s been on a full-frontal campaign against him, keeping rumors alive about founding his own party.

Broadening the Base in the Fall?
-In his speech, K.M. made another pointed reference to continuing the strategy of expansion and “infusing” ND with figures from outside its traditional inner circle. Some believe this includes former minister Andreas Loverdos, who has been telling confidants he’ll announce his political future after the summer, especially since his party “Democrats” tanked in the European elections.

Waking Up the Party
-New ND Secretary Kostas Skrekas’s mission is to “wake up” the party, which has fallen into a kind of lethargy—a common ailment for ruling parties. His first task is staffing the secretariats, followed by the ONNED congress (Orfeas Georgiou will stay on as president). This fall will also bring internal party elections for regional and local offices, as well as the selection of congress delegates. The party congress will happen either in December or early next year, depending on scheduling.

Who Will Speak at the Pre-Investigative Debate
-Parliament is trying to choreograph Wednesday’s marathon session, where three motions for forming a pre-investigative committee will be debated. Most estimates say the secret ballot results will come out in the early morning hours. Of the 14 political figures facing referral, only four are expected to speak. From ND, Kyriakos Mitsotakis and Kostas Karamanlis will speak, while from SYRIZA it will be Christos Spirtzis and Marina Chrysoveloni. The rest will submit written statements.

Residence Permits for the 12-Year-Old’s Parents on Voridis’s Orders
-The story of the two children who drowned in the Arachthos River has shaken us all. As did their parents’ decision to donate their organs. It goes without saying that the state must do everything necessary to support them. Chief among the needs is helping the parents of the 12-year-old boy of Albanian descent who want to attend his funeral in Albania but know they won’t be able to return to Greece due to lacking residence permits. I hear that when Minister Makis Voridis was informed of the issue by ND MP Giorgos Stylios from Arta, he said “I’ll handle it personally” and ordered his staff to take all necessary actions immediately.

Ambassador-at-Large?
-A source from within the government told me there are thoughts of appointing an ambassador-at-large—man or woman—to Washington, from among Greece’s public figures. Are we getting jealous of the Americans with George or Kimberly? We’ll see…

Telis–Ivan–M.M.
-Yesterday we were writing something about new shareholders entering PAOK, related to a share capital increase where older shareholders waived their rights—but that now seems coincidental. Because, from what I gather, all hell broke loose with Telis Mystakidis’s sudden appearance in PAOK’s inner circle. The billionaire Telis announced that he’s taking on the construction of the new Toumba stadium in agreement with the amateur PAOK club, not with Savvidis, who owns the football company. Mystakidis—one of the richest Greeks abroad—has been flirting with PAOK for two years now, wanting to join the football club, but couldn’t find common ground with Ivan. His family was also hesitant to get their hands dirty in the murky world of Greek football, living as they do in Switzerland. But it seems his love for Thessaloniki and PAOK finally won out, since that’s where he’s from.

And Savvidis?
-Now Ivan, exiled in Rostov, seems to have been caught off guard by Telis’s full-on move into his turf. But those who know Telis say, “Savvidis hasn’t seen anything yet. Mystakidis isn’t going to build the stadium and blow a cool hundred million just to play by himself. He’s going to push hard to either enter or take control of the club. And of course, he’ll run the show from Thessaloniki with his billions, while the other guy keeps stressing out trying to find ways to bring money into Greece.” So it looks like we’re in for a juicy showdown inside PAOK’s Double-Headed Eagle.

And M.M.?
-Now, here’s the situation with M.M: “Telis is a well-known, successful, and clean businessman—and we need more like him in Greece. But please, let’s not get involved with PAOK. We’ve got a good relationship with Ivan and calm waters—we don’t want to rock the boat.” But I’ll tell you this: when it comes to Ivan and his ties to Russia, the discreet distancing has already begun. The rest is just talk.

The “Wizards” of the Stock Market and Their Trades

-Over the years, the Athens Stock Exchange has seen some larger-than-life characters who made a lasting impression. Mostly private investors and, more rarely, professional fund managers, who each carved out their own legend with their unique flair (which usually ended with a spectacular crash). I bring this up because this column would like to tip its hat to Helikon. If I’m not mistaken, it’s three Italians who left Julius Baer and founded Helikon in the summer of 2019 — a fund that seems to read the Greek market in an almost magical way. Seventy percent of their portfolio is in Greek stocks, and it’s as if these people have a sixth sense. They know exactly when to enter the market and which stocks to pick, and also the perfect timing to cash out. Rumor has it they’re currently buying shares of ADMIE and the Thessaloniki Port Authority.

Which Investments Interest the Indians

-A meeting of 40 entrepreneurs from India and Cyprus took place on Sunday during Indian Prime Minister Narendra Modi’s visit to the island. Addressing the business community, Modi described the India-Cyprus relationship as strategic, stating that India is interested in investing in shipping, Mediterranean ports, and tourism. He also noted that India is close to signing a free trade agreement with the EU.

Big (Stock Market) Hopes for the Bank of Cyprus

-This coming Friday, June 20, the Bank of Cyprus share will replace ELLAKTOR on the FTSE25 Large Cap index, having already exceeded a market capitalization of €2.7 billion. On June 25, the Bank will pay out its €0.80/share dividend for the 2024 fiscal year. On August 5, it will announce first-half results and is expected — according to market sources — to also announce a major interim dividend for the 2025 fiscal year. Two days later, on August 7, the MSCI index rebalancing will be announced, for which the Bank’s management has high expectations. Free from the burden of deferred taxation, with a lower deposit cost base and a high capital adequacy ratio, the Bank of Cyprus has taken center stage in the local stock market, with 14.6% gains in the quarter and more than 37% year-to-date.

Each to Their Own (Still Friendly Though)

-Regarding the redevelopment and utilization of the B’ Coast area in Voula, note that three different food and entertainment zones will be created on the beachfront — one for each partner in the project. That is, there will be shared public spaces, but also three distinct hubs each hosting bars, restaurants, cafes, etc. For Konstantakopoulos, it makes sense because he’s linking the investment to the Illisian (the new Hilton). But why Prokopiou and Kokkalis opted for each to have their own separate food & entertainment venue is quite puzzling.

Alpha Finance and Kepler Cheuvreux Recommend Buying Profile

-It all started three months ago when Eurobank Equities set a target price of €6.80 for Profile stock — without even having seen the company’s results at the time. A month ago, Optima raised the bar with a €7.40 target. Yesterday, Alpha Finance and Kepler Cheuvreux issued their first-ever analysis of Profile Software stock with a “buy” recommendation and a price target of €8.20. Alpha’s report describes Profile Software as one of Greece’s top IT companies, developing and delivering its own innovative, flexible solutions for Banking, Investments, Management, and Fintech, with a global presence and a 30-year history. According to the latest Gartner report, Profile ranks among the top 10 software vendors in Europe, has a €130 million backlog of contracts, and is expected to post average annual revenue growth of 13% through 2030. Currently, its share trades slightly below €6 on the stock exchange, with a market cap nearing €147 million.

Business Through Recycling

-ENVIPCO is an American Environmental Products company based in Connecticut, active in many countries, and known for developing and operating Reverse Vending Machines (RVMs) — high-tech systems that recover used packaging. TEXAN S.A. is a Greek company based in Attica, specializing in environmental management and the exclusive distributor of ENVIPCO in Greece and Cyprus for packaging recycling development. Together, TEXAN and ENVIPCO created the first recycling machine production unit (ULTRA – 48) outside the U.S., making Greece a central hub for all of Europe. On June 26, TEXAN and ENVIPCO will host the official Ceremony of Proclaiming the Greek Recycling Ambassador at the Recycling and Environmental Education Park in Kamatero. The ceremony will be conducted by Environment Minister St. Papastavrou and Development Minister T. Theodorikakos.

They Didn’t Know Whom to Believe

-From early yesterday morning, investors on the Athens Stock Exchange were poring over analyses from Greek and foreign investment houses about how the geopolitical shock in the Middle East might impact the global economy and markets. At the same time, they were also reading the ever-optimistic statements from President Trump, who said military activity would subside and that “common sense will prevail.” American investors seemed to trust the words of the PotUS, with Wall Street futures and global oil prices indicating that peace was near. In Athens, the General Index was down as much as -0.52%, quickly recovered, got swept up in the wave of overseas optimism, rose as high as +0.55%, and eventually closed slightly down at 1,834.40 points (-0.05%). The turnover, however, revealed underlying skepticism and caution, totaling €154.54 million, including €7.8 million in block trades. Among the banks, Eurobank stood out (+1.56%) at €2.7380, maintaining a market cap above €10 billion, followed by Alpha Bank (+1.15%) at €2.7360. National Bank (+0.93%) at €10.85 held the third-largest market cap position (€9.9 billion), while Piraeus Bank rose by +0.73% to €5.54.

GEK TERNA’s Push for €20 and New Records for Elval Halcor and Ave

-Defying the negative mood that prevailed in the domestic market yesterday, GEK TERNA took another step toward the €20 mark — a price milestone it hasn’t closed above for 25 years, specifically since February 2000. In the past three sessions, it has crossed that level intraday twice, and unless something drastic happens on the exchange, it’s only a matter of time before it breaks through. For the record, analysts have set an average target price of €26.50 — 33.2% above current levels — with concessions (i.e., infrastructure rights) being the key to further growth. ElvalHalcor remains unstoppable, logging its fifth consecutive session of gains. Yesterday it even hit €2.55, though it closed below the day’s high. Still, that didn’t stop it from renewing its 4-year record. If it reaches €2.60, it’ll be touching levels unseen since May 2008. Investors welcomed the deal for 40% of Bazaar supermarkets, sending Ave’s share price above €0.60 for the first time since August 2010. The group’s stock soared by +8.1% on Monday — its best session in the last two months. Turnover exceeded €140,000, and volume topped 235,000 shares.

43% of U.S. Households Own Stocks on Wall Street

-Inflation is running above 3%. Prices are rising, wages aren’t keeping up, and the cost of living is increasing. The average American household’s well-being is tied to Wall Street’s performance. Americans have rarely held so many stocks — it’s one of the highest levels in history. It’s over 4 percentage points higher than at the peak of the Dot-Com bubble in the 1990s. During the financial crisis, only 19% of households held stocks. At the same time, non-American investors now hold 60% of all U.S. stocks and bonds. Foreign investors own around $19 trillion in U.S. equities. That means non-U.S. investors now hold $26 trillion more in U.S. assets than Americans do abroad. The net international investment position of the U.S. has doubled in five years. These numbers carry weight — especially if global trust in the decisions of the American government begins to falter.